Laundry business cleans up with six-figure deal

A commercial laundry equipment supplier in Calderdale has expanded its fleet of vehicles and will be creating jobs this year after landing a six-figure funding package.

MAG Laundry Equipment, which specialises in the supply, installation and aftercare of commercial laundry equipment, has used the funding from HSBC UK to purchase six Volkswagen vans, which will allow the business to reach a greater number of new and existing customers across the country.

MAG Laundry Equipment has also invested in new technologies to increase productivity, with all laundry equipment now WIFI-connected and remotely accessible. Increased spending on the company’s web presence has also helped European supplier relations.

This expansion is expected to boost the company’s turnover by 25% over the coming year and create seven jobs.

Mark Dennis, director of MAG Laundry Equipment, said: “Knowing we wanted to pursue plans to expand this year, we decided to explore our financing options. With the support of our relationship manager Victoria Kielty and her team at HSBC UK, we were able to secure the funding needed to buy new vehicles for the business and facilitate growth.”

Kielty, HSBC UK’s relationship manager for West and South Yorkshire, added: “Over the last nine years, the team at MAG Laundry Equipment has shown enormous ambition and an increasing appetite to grow its number of services. We are delighted to be able to support the business in fulfilling its objectives, enabling it to maintain and enhance its position as one of the country’s leading commercial laundry supply and service companies.”